There are many asset protection tools out there- you can just ask your attorney to highlight some of the most popular ones for you. Asset protection tools often work together, complementing one another to give you peace of mind and confidence about the future. Two tools that work well in an overall plan include life insurance and annuities. 

Outside of their general use in estate planning, both of these can be helpful for shielding assets, as long as any exemption limits at the state level are clearly understood.

Choosing to go with life insurance is one way to ensure that the assets in the policy transfer to beneficiaries very easily. You can determine a face amount that is line with the resources you are attempting to provide, such as mortgage payment replacement or funds for a college education.

When it comes to annuities, they share something with IRAs: the funds inside are not taxable until they are distributed. There are no caps on contributions here, either, so an annuity can be a good way to put some assets aside for future use.

To learn more about these tools, in conjunction with other legal avenues for protecting your assets, reach out to an asset protection attorney today. Call us at (601) 925-9797.